Varo Energy is set to acquire a 66,000 m3 fuel terminal in Amsterdam from ENVIEM.
The conditions of the agreement between the two companies sets out that ENVIEM will continue to own and operate the waste management terminal in the port of Amsterdam while Varo will acquire the fuel terminal located alongside.
Additionally, Varo will extend its supply to the full Gulf and TinQ retail network, which is operated by ENVIEM in Belgium and the Netherlands.
The acquisition will further strengthen Varo’s position as an integrated logistics service provider to the downstream business across northwest Europe. The company says it is a ‘valuable addition to further improve the services Varo Energy offers to customer in the Dutch market’.
The Amsterdam terminal has been operational since 2012 and offers loading, unloading and blending of different fuel grades for vessels, barges and trucks.
It is anticipated the transaction will close on August 1.